"In a pair of paperwork decisions that were anticipated for months, the Yankees declined their 2009 options on first baseman Jason Giambi and right-hander Carl Pavano on Tuesday, officially making both players free agents. The 37-year-old Giambi completed his seventh season in New York, batting .247 with 19 doubles, 32 home runs and 96 RBIs in 145 games. The Yankees held a $22 million option for 2009 on Giambi's original seven-year, $120 million contract signed before the 2002 season, buying him out instead for $5 million. Source: MLB.com
